The government is likely to ease the incidence of minimum alternate tax, or MAT, on infrastructure companies.
The Centre has turned down the proposal of the empowered group of state finance ministers to keep alcohol out of goods and services tax.
Businesses with more than Rs 10 lakh turnover may end up paying the central goods and services tax, with the Centre not agreeing to states' suggestion of keeping the threshold at Rs 1.5 crore.
RBI wonders if banks are doing enough to push the service.
Jalanga or its neighbouring villages do not have a single bank branch. The nearest bank branch, that of UCO Bank, where Das has an account, is located at Bhadrak, around 20 km from the village.
Outlets of telecom companies such as Airtel and Vodafone may soon double as bank kiosks for financial services like funds transfer or bill payment, especially in parts of the country where there are very few banks or none at all.
Along with Subir Gokarn's appointment as the fourth deputy governor, the Reserve Bank of India on Wednesday reshuffled some of the key portfolios of its deputy governors and executive directors.
This is because of a government order that RBI has no power to update pension of its employees. This has been a bone of contention between the government and the central bank for the past one year.
The finance ministry is likely to drop the proposal to tax religious trusts. The proposal formed part of the direct taxes code and had raised eyebrows both within and outside the finance ministry. Under Section 10 (23C) of the Income Tax Act, any trust or institution that works wholly for public religious and charitable purposes and is approved by the chief commissioner or director general, is tax exempt.
The government has said that public sector banks have asked for much more capital than it can give.
The Reserve Bank of India's proposed guidelines on bank executives' compensation will be extended beyond just CEOs to all senior executives in private and foreign banks, especially those involved in treasury functions.
Typically, those from the IIMs, Xavier Labour Relations Institute and Indian School of Business joined at Scale III, but graduates from other B-schools were recruited in scale II.
Low cost of funds and low credit growth have meant unprecedented levels of capital adequacy ratios (CARs) for banks.
Recently, Finance Minister Pranab Mukherjee had assured industry that the government was open to re-examining proposals in seven key areas.
The government is set to increase its stake in Bank of Baroda (BoB), Oriental Bank of Commerce (OBC) and Dena Bank.
The move is aimed at improving margins.
In addition, bankers also told Business Standard that they did not expect the central bank to hike policy rates or the cash reserve ratio in the third quarter review scheduled for October 27 as inflation was not rising fast though inflationary expectations were there.
The Pension Fund Regulatory and Development Authority will consider a proposal to manage the pension funds of companies at its board meeting on Wednesday, extending its role from being manager of individual pension plans.
Punjab & Sind Bank plans to offer 5% each to top institutions
The only thing that's clear is the October 15 deadline for the end of free third-party ATM use.
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